WEEKLY DEC'19 DAX - This week's technical analysis & trade strategy
DEC'19 contract - The outlook for Q4 has been to stay long and buy the dip at 12027.0. This view has been confirmed, as in line with weekly signals which have also pointed higher, investors bought the market last week to post a 4th higher weekly low & high in a row but for a gain of only just over 100 Pts. Dip buying has dominated sentiment throughout this year and with no sign yet that this is ending, but with daily sentiment overstretched at 1 ½ year highs and trading towards the record top posted in Jan 2018 at 13596.0, the outlook for this week remains just cautiously bullish and the call is to buy only modestly on the open and then at 12806.5, last week’s low with a stop loss at 12637.0, the 2 week base. Targets are to 13206.0, the May 2018 top, 13596.0, last year’s record peak and then towards 13850.0.
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